v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income $ 60,490 $ 55,252
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 70,319 73,066
Change in value of life insurance contracts (2,120) (1,257)
Allowance for equity funds used during construction (4,164) (3,695)
Changes in operating assets and liabilities:    
Receivables and accrued and unbilled revenue (44,553) (40,542)
Accounts payable 16,091 (9,027)
Other current assets (6,080) (5,532)
Other current liabilities (5,692) (3,656)
Other changes in noncurrent assets and liabilities 28,696 22,758
Net cash provided by operating activities 112,987 87,367
Investing activities:    
Utility plant expenditures (276,440) (229,520)
Other 1 207
Net cash used in investing activities (276,439) (229,313)
Financing activities:    
Short-term borrowings 555,000 410,000
Repayment of short-term borrowings (480,000) (255,000)
Repayment of long-term debt (459) (430)
Advances and contributions in aid of construction 19,747 20,542
Refunds of advances for construction (5,185) (4,543)
Per- and polyfluoroalkyl substances (PFAS) settlement proceeds 18,471 10,605
Repurchase of common stock (951) (1,214)
Issuance of common stock 95,582 1,343
Dividends paid (40,033) (38,098)
Payment for purchase of noncontrolling interest (6,951) 0
Distribution to noncontrolling interest 0 (790)
Net cash provided by financing activities 155,221 142,415
Change in cash, cash equivalents, and restricted cash (8,231) 469
Cash, cash equivalents, and restricted cash at beginning of period 97,373 95,687
Cash, cash equivalents, and restricted cash at end of period 89,142 96,156
Supplemental disclosures of cash flow information:    
Cash paid for interest (net of amounts capitalized) 36,994 31,423
Supplemental disclosure of investing and financing non-cash activities:    
Accrued payables for investments in utility plant 75,053 60,428
Utility plant contributed by developers $ 16,229 $ 14,162